Court Place Advisors LLC Lowers Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Court Place Advisors LLC trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 128,210 shares of the network equipment provider’s stock after selling 643 shares during the quarter. Cisco Systems comprises 2.1% of Court Place Advisors LLC’s portfolio, making the stock its 11th largest position. Court Place Advisors LLC’s holdings in Cisco Systems were worth $6,477,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CSCO. Wealthspire Advisors LLC grew its stake in Cisco Systems by 48.1% during the third quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock worth $3,838,000 after buying an additional 23,194 shares during the period. HBK Sorce Advisory LLC grew its stake in Cisco Systems by 0.5% during the third quarter. HBK Sorce Advisory LLC now owns 64,136 shares of the network equipment provider’s stock worth $3,448,000 after buying an additional 301 shares during the period. Louisiana State Employees Retirement System purchased a new stake in Cisco Systems during the fourth quarter worth approximately $28,685,000. Adage Capital Partners GP L.L.C. grew its stake in Cisco Systems by 1.1% during the third quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock worth $240,335,000 after buying an additional 49,700 shares during the period. Finally, Allen Mooney & Barnes Investment Advisors LLC grew its stake in Cisco Systems by 0.6% during the fourth quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 192,674 shares of the network equipment provider’s stock worth $9,734,000 after buying an additional 1,097 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded down $0.13 on Wednesday, reaching $47.79. 14,395,959 shares of the company’s stock were exchanged, compared to its average volume of 19,579,455. The firm has a market capitalization of $193.51 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 2.73 and a beta of 0.87. Cisco Systems, Inc. has a fifty-two week low of $45.56 and a fifty-two week high of $58.19. The business’s 50-day moving average is $49.18 and its two-hundred day moving average is $50.32. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The firm’s revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 earnings per share. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 3.19 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Wednesday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio is currently 48.63%.

Insider Activity at Cisco Systems

In other news, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the sale, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the sale, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at $2,906,050. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock worth $972,080 in the last 90 days. Corporate insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. Piper Sandler boosted their target price on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Citigroup assumed coverage on shares of Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 target price on the stock. Barclays boosted their target price on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Finally, Melius Research reissued a “hold” rating and set a $55.00 target price on shares of Cisco Systems in a research report on Monday, January 8th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $56.03.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.